Attractiveness for fdi

Customers shop for beef at a Lotte Mart supermarket in HCM City. Retail and wholesale is one of the most attractive sectors for foreign investors. Photo thegioitiepthi.vn HÀ NỘI – Foreign investors registered to pour US$1.73 billion into Việt Nam in June, bringing the total amount of foreign direct investment (FDI) committed to the country in the first six months of the year to $18.47 billion, down 9.2 per cent year on year. Experts have said the decline is due mainly to a number of large-scale projects that received licences in June last year. Statistics from the Ministry of Planning and Investment’s Foreign Investment Agency show performance was strong in the first five months of the year, with FDI pledged to the country hitting a four-year high for the period of $16.74 billion, up 61 per cent year on year. The performance for the first half of the year was dragged down only by the numbers for June. More than 1,720 new projects, … [Read more...] about Việt Nam attracts less FDI in first half of the year

Dr Phan Huu Thang, vice chairman of Vietnam’s Association of Foreign-Invested Enterprises New-generation FDI is ­required by the government to be more ­selective and focus on sectors that utilise hi-tech and ­environmentally-friendly ­solutions. There are concerns that this will reduce the ­number of foreign-invested projects in the country. What should be done to ensure an increase in both the quantity and quality of FDI? The new-generation FDI strategy aims to create breakthrough growth as well sustainable economic development based on the achievements and lessons of the country’s 30-year economic restructuring journey, along with FDI mobilisation and usage. In my opinion, it is quite necessary to focus on the selection of FDI capital because in the long-term it would be counter-productive to exchange the environment and natural resources for momentary growth, as the price of such deals will be extremely high. This means we need a clear … [Read more...] about New generation tasks ahead for FDI in Vietnam

The southern province of Binh Duong is set to receive over $7 billion in foreign ­direct investment (FDI) between 2016 and 2020. More than just quantitative factors, Binh Duong aims to remarkably improve the quality of the capital flows it receives through accelerating a raft of reforms with the intention of attracting investment, making the province more appealing to global ­investors. Binh Duong rolls out red carpet for FDI, source: binhduong.gov.vn After 30 years of attracting FDI, foreign-invested enterprises (FIEs) have grown into an integral part of the national economy. They have become more dynamic, and making an increasing contribution to both the country’s socioeconomic development and to the development of Binh Duong. Nguyen Thanh Truc, Director, Binh Duong ­Department of Planning and Investment As of October 31, the province was home to 3,472 foreign-invested projects with a total value of over $31.75 billion in committed capital, … [Read more...] about Binh Duong rolls out red carpet for FDI

Bình Dương Province’s attractiveness for foreign investors is on the rise. — Photo baodautu.vnViet Nam News BÌNH DƯƠNG — Bình Dương Province as of September has attracted more than 3,430 FDI projects with over US$31.4 billion of registered funds, ranking among the top three in the country in FDI attraction, after HCM City and Hà Nội. Nguyễn Thanh Trúc, director of Bình Dương’s Department of Planning and Investment, said that more foreign companies were investing in the province and looking for Vietnamese business partners. The province’s road infrastructure and its 29 industrial parks have also developed strongly in recent years. Last year, FDI companies contributed to 48.5 per cent of the province’s investments and over 82.8 per cent of its exports, according to Trúc. Bình Dương is the newest member of the World Technopolis … [Read more...] about Bình Dương attracts more FDI

Many roads in Binh Duong province have been upgraded and become outstanding signs of the urban architecture and industrial-service development. Synchronous infrastructure system and strong FDI attraction Binh Duong aims to become a green-clean-beautiful industrial city, a political, economic, cultural, and social centre, and an important transport hub in the Southern Key Economic Zone in addition to developing its own smart city model. To achieve this goal, Binh Duong province has step-by-step planned and built itself into a modern city. The province authorities have been actively investing in construction and long-term projects and works, attracting labour resources and long-term investment into infrastructure investment, and connecting areas within and outside the province. According to Nguyen Van Hung, chairman of Becamex IDC, Binh Duong province is well-known among foreign investors and international groups and many of them are rushing to the province to search for more … [Read more...] about Binh Duong: the leading province for FDI and smart city establishment

A focus on high-tech investment and added value is the centre of the new strategy, Photo: Le Toan Adam Sitkoff has been living in Vietnam for many years and has witnessed the strong inflow of foreign direct investment (FDI) into Vietnam over the past decades. As the executive director of the American Chamber of Commerce in Hanoi (AmCham Hanoi), Sitkoff acts as a bridge between US investors and the Vietnamese market, which he sees has great potential, both for high growth and for FDI attraction. “Business activity here started slowly for Americans. In 1995, US-Vietnam trade stood at just $451 million. It will soon hit $60 billion and we now see US investors active in almost every sector of the Vietnamese economy. American companies have invested billions of dollars here, integrating Vietnam into the global supply chain, creating high-quality jobs, and helping the country become more productive, more efficient, safer, and cleaner,” Sitkoff told VIR. According to him, it is … [Read more...] about Developing a new strategy for FDI

A corner of Da Nang city (Photo: VNA) Da Nang (VNA) – As foreign direct investment (FDI) capital has been a major driver for development in the central coastal city of Da Nang, the city is working to attract more FDI. FDI bolster local economy As of September 15, the city housed 660 FDI projects, securing total capital of more than 2.87 billion USD. FDI has a crucial role in boosting economic growth, and contributes considerably to the city’s export revenue. FDI firms exported 557 million USD worth of products in 2015 and gained 765 million USD in 2017, which made up 52.2 percent of the city’s total exports. By September this year, export revenue earned by FDI enterprises is estimated at 880 million USD, or 53.3 percent of the total shipment value. Some 44,000 local labourers are employed at FDI companies. Last year, the firms contributed more than 171.33 million USD to the city’s budget, up 112.87 percent from 2016. During January-August, FDI businesses … [Read more...] about Da Nang takes actions to attract more FDI investments

(VEN) - Experts from the International Finance Corporation (IFC), a member of the World Bank Group, have recommended eight priority areas for next-generation foreign direct investment (FDI) attraction in the 2020-2030 period to promote qualitative and quantitative growth of the Vietnamese economy. IFC experts believe economic reforms over the past three decades, including efforts to attract FDI, have been a major driving force of Vietnam’s economic growth and international integration. Except for a short interruption due to the adverse impact of the Asian financial crisis from 2007-2009, FDI flows to Vietnam increased on an annual basis and grew rapidly in the 2014-2017 period, with the registered amount growing from US$21.9 billion in 2014 to US$31.1 billion in 2017. The implemented amount also increased from US$12.5 billion in 2014 to US$17.5 billion in 2017. By the end of June 2018, registered FDI in Vietnam had reached US$331.2 billion, and US$180.7 billion had been … [Read more...] about World Bank lists priorities for FDI attraction

Govt pledges more incentives for FDI, wants economic connectivityVan Ly HANOI – The Government will create favorable conditions to attract more foreign direct investment (FDI), and urged foreign-invested enterprises to connect themselves with domestic enterprises to better create value chains in the process of international integration, heard the Vietnam Business Forum (VBF) 2017 on Friday. Deputy Prime Minister Vuong Dinh Hue said at the forum that the Government will offer more incentives to investors, but priorities will be given to those FDI enterprises with concrete schemes to set up links with domestic partners. The Government wants to forge stronger connectivity between domestic and foreign enterprises to help them develop and join global value chains, he said. “FDI enterprises play a vital part in the Vietnam’s economy and their successes are the country’s successes,” said Hue. According to the Deputy PM, Vietnam will promote FDI but … [Read more...] about Govt pledges more incentives for FDI, wants economic connectivity

Real estate still attractive to FDIQuoc Hung By Quoc Hung - The Saigon Times Daily HCMC – The still-dormant real estate market has proven to be a long-term fertile soil for the foreign direct investment (FDI) sector, with new capital commitments still flowing in last year. FDI inflow to the real estate sector amounted to US$1.85 billion last year, more than doubled the figure in 2011 (US$850 million). The 2011 FDI pledges in this sector made up only 5.8% of the total registered FDI capital. But in 2012, FDI in the property sector accounted for 14.2% of the total FDI in Vietnam, ranking second after manufacturing-processing, which lured 70% of the total pledged capital, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. The sharp increase in FDI in the realty sector was ascribable to the US$1.2-billion urban project Tokyu Binh Duong Garden City in Binh Duong. The project developed by the joint venture … [Read more...] about Real estate still attractive to FDI